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Let's talk about Trump's recent actions in cryptocurrency and their impact:
1. Create and issue your own coin to raise funds.
• Trump launched his personal coin TRUMP at the beginning of the year, and the opening price was less than 20 cents. As a result, it skyrocketed 150 times within 12 hours. His own company holds 80% of the coins, which is akin to a dealer controlling the market; they can lift prices whenever they want and crash them at will. Although he claims this is a "symbol of victory," the industry is rife with criticism, and even his own supporters find it unacceptable, saying his actions are too ugly.
2. The sudden policy shift played a role in fueling the momentum.
• As soon as he took office, he overturned the previous administration's policies: he halted the research and development of central bank digital currencies, only to encourage private coin issuance. The chairman of the U.S. Securities and Exchange Commission (SEC) was replaced, regulations were loosened, and crypto assets companies collectively withdrew their lawsuits. This series of actions left the coin community cheering, but it also raised suspicions that he was paving the way for his own TRUMP coin.
3. Accelerating legislation hides its own selfish motives.
•In March, a strong push was made for the stablecoin legislation, ostensibly to regulate the market, but in reality, it aimed to leverage the dollar's hegemony to reap benefits globally. What’s even more outrageous is that while legislating, the U.S. is hoarding Bitcoin as a strategic reserve and even considering using confiscated illicit funds to buy coins.
4. Diplomatic means are used to carry out the harvesting.
•During the Ukraine crisis and the Middle East conflict, it was exposed that "ceasefire negotiations" were used as leverage to demand the other party to cede resources such as rare earths and nuclear power plants.
This kind of "trading diplomacy" is exactly the same as his method of first releasing positive news to pump the market in the crypto space, and then selling at a high point.
5. The whole family went out to cut leeks
• His wife Melania followed the coin issuance, resulting in a 60% plunge; his son then publicly called for Bitcoin, in coordination with his father releasing news.
Netizens are all complaining: the White House has turned into a large coin circle shouting group, with the president leading the way. #BTC #特朗普加密新政